Congressional leadership and the Trump Administration stand accused of " abandoning middle-class taxpayers in favor of high-income Americans and wealthy corporations' by the National Association of Home Builders (NAHB). The remark came in a statement from NAHB Chairman Granger MacDonald regarding Thursday's release of the framework for the long anticipated Republican tax reform proposal. The National Association of Realtors (NAR) also released a statement critical of the plan, but withheld talking about specifics pending further review. MacDonald had no such reservations. In the statement, which carried the headline "Republican Tax Reform Plan Slams Middle Class," he said, "The bill eviscerates existing housing tax benefits by drastically reducing the number of home owners who can take advantage

November 2, 2017 Download our Mobile App: Download our Mobile App: 30 Yr. Fixed 6.28% -0.01%   6.11% 7.26% 15 Yr. Fixed 5.65% +0.05%   5.54% 6.59% 30 Yr. Jumbo 6.25% +0.00%   6.25% 7.45% Compare Mortgage Rates from Local Lenders for Nov 2, 2017 Mortgage Rates Unchanged to Slightly Higher Wed, Nov 1, 2017 4:45PM Mortgage rates were slightly higher today, on average, as bond markets backed away from their stronger levels seen during the last 2 days of October. "Strength" in bond markets connotes higher prices for bonds and lower interest rates. In actuality, the bonds that dictate mortgage rates are fairly close to yesterday's levels. Additionally, some lenders are offering mortgage rates that are fairly close to yesterday's, but the median lender is a bit worse off due to weaker bond market conditions earlier this morning (bonds improved during the day, but not every lender changed rate sheets accordi... (read more) Mortgage News Daily Rate Change Points 30 Yr. Fixed 6.28% -0.01 0.00 15 Yr. Fixed 5.65% +0.05 0.00 30 Yr. FHA 5.94% -0.01 0.00 30 Yr. Jumbo 6.25% 0.00 0.00 7/6 SOFR ARM 5.62% +0.03 0.00 30 Yr. VA 5.95% -0.02 0.00 Updates Daily - Last Update: 9/8 Freddie Mac Rate Change Points 30 Yr. Fixed 6.50% -0.06 0.00 15 Yr. Fixed 5.60% -0.09 0.00 Updates Weekly - Last Update: 9/4 Mortgage Bankers Assoc. 30 Yr. Fixed 6.64% -0.05 0.59 15 Yr. Fixed 5.84% -0.19 0.84 30 Yr. Jumbo 6.58% -0.09 0.39 Updates Weekly - Last Update: 9/3 UMBS 30YR 5.5 101.17 -0.11   97.47 101.61 UMBS 30YR 6.0 102.48 -0.06   99.66 102.50 10 YR Treasury 4.073 +0.034   3.621 4.780 MBS Live Day Ahead: More Fed Musical Chairs; Tax Plans; NFP Tomorrow Thu, Nov 2, 2017 9:13AM There are only so many ways to say the same thing, but I'll at least update the chart to show that bonds remain inside the same boundaries we've been watching.  2.36% (or 2.35%, depending on which way you want to round) has been the lower bounda... (read more) MBS Price Change UMBS 5.0 99.52 -0.25 UMBS 5.5 101.16 -0.13 UMBS 6.0 102.46 -0.08 GNMA 5.0 99.86 -0.22 GNMA 5.5 101.01 -0.18 GNMA 6.0 102.06 -0.12 Pricing as of: 9/9 11:43AM EST US Treasury Yield Change 2 YR Treasury 3.531 +0.043 5 YR Treasury 3.597 +0.035 7 YR Treasury 3.803 +0.035 10 YR Treasury 4.076 +0.036 30 YR Treasury 4.730 +0.040 Pricing as of: 9/9 11:43AM EST Other News Builders Blast Tax Proposal; Realtors not Smiling Either Thu, Nov 2, 2017 3:46PM Congressional leadership and the Trump Administration stand accused of " abandoning middle-class taxpayers in favor of high-income Americans and wealthy corporations' by the National Association of Home Builders (NAHB). The remark came in a statement from NAHB Chairman Granger MacDonald regarding Thursday's release of the framework for the long anticipated R... (read more) Realtors Say Ultra-Tight Inventories Made Q3 Housing "Underwhelming" Thu, Nov 2, 2017 11:52AM The rate of appreciation slowed a bit, but home prices both nationally and in most major metropolitan areas grew substantially in the third quarter of 2017. The National Association of Realtors® (NAR), which released the price data on Thursday, said tight inventory kept home prices rising "at a steady clip," while it also pinched sales growth. The median... (read more) Residential Spending Scores Significant Annual Gains Thu, Nov 2, 2017 11:41AM There was a slight increase in total spending on construction in September. The U.S. Census Bureau says that all construction put in place during the month came to a seasonally adjusted annual rate of $1.220 trillion, 0.3 percent more than spending in August, and 2.0 percent above the rate in September 2016. On a non-seasonally adjusted basis, expenditures b... (read more) Impac Leadership Change; 17-35 Year-Olds Moving Housing Thu, Nov 2, 2017 9:20AM Today the House Financial Services subcommittee is holding another hearing on GSE reform. Nothing is simple, but with Congress we really have an uphill battle. It would be good if more folks joined the Mortgage Action Alliance . It's free. Critics ask, despite the best efforts of our industry, how can we expect Congress to spring into action on reforming the... (read more) Latest Video Homebuilder stocks hit on mortgage deduction proposal NAHB CEO: Tax plan on the verge of starting a housing recession Fed faces big changes in coming months. Here's what to expect Around the Web CNBC How to know if you'll be affected by the proposed repeal of the estate tax Reuters Republicans unveil tax cut bill, but the hard work awaits CNBC Trump picks Jerome Powell to succeed Yellen as Fed chair Calculated Risk Blog Goldman: October Payrolls Preview Freddie Mac Mortgage Rates Hold Calculated Risk Blog Is a Recession Imminent? CNN Homebuilder stocks rocked by tax reform plan Brookings Institution Hutchins Roundup: Market concentration, youth-targeted tax cuts, and more CNBC Bond yields lower, dollar slips as markets treat tax package with skepticism CNBC Why Powell is not as safe a choice for Fed Chair as the markets think Washington Post Republican tax plan to lower cap on mortgage interest deduction to $500,000 loans Calculated Risk Blog October Employment Preview NAHB Eye on Housing 55+ Builders and Developers Stay Confident in Third Quarter

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